Valvoline Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	86.3	210.7	211.5	1,420	424.3	420.3
Depreciation & Amortization	124.9	119.4	105.9	88.8	71.4	62.1
Loss (Gain) From Sale of Assets	43.2	-71.1	-41.8	-	-	-
Stock-Based Compensation	10.9	10.5	12	12.2	14.4	13.7
Other Operating Activities	71.9	72.6	29.1	-1,216	-248.8	-197.8
Change in Accounts Receivable	4.7	-3.1	-0.9	26.4	-17.5	-17.4
Change in Inventory	-7.3	-5.4	-7.7	-3.3	-5.4	-5.3
Change in Accounts Payable	18.5	3.3	-6.4	111.3	24.5	26.7
Change in Other Net Operating Assets	-22.6	-29.8	-18.8	-85.7	-128.5	-120.1
Operating Cash Flow	320.8	297.2	265.1	-40.8	284.2	403.9
Operating Cash Flow Growth	12.01%	12.11%	-	-	-29.64%	8.66%
Capital Expenditures	-263	-259.2	-224.4	-180.5	-132	-103.1
Cash Acquisitions	-696.2	-65	-52.7	-36.3	-50.7	-281.7
Divestitures	63.6	121	71.5	-	-	-
Investment in Securities	1.5	1.5	346.5	-360.4	-	-
Other Investing Activities	-2.4	0.6	-4.1	2,621	-24.9	-15.1
Investing Cash Flow	-896.5	-201.1	136.8	2,044	-207.6	-399.9
Long-Term Debt Issued	-	85	200	924	23	535
Long-Term Debt Repaid	-	-116	-710.8	-931.5	-38.1	-800
Net Debt Issued (Repaid)	634	-31	-510.8	-7.5	-15.1	-265
Repurchase of Common Stock	-31.1	-76.8	-226.8	-1,525	-142.6	-126.9
Common Dividends Paid	-	-	-	-21.8	-89.2	-90.9
Other Financing Activities	-18.4	-5.1	-8.7	-119.5	28	-52.7
Financing Cash Flow	584.5	-112.9	-746.3	-1,674	-218.9	-535.5
Foreign Exchange Rate Adjustments	0.7	-0.3	-	-0.1	-5.2	2.4
Net Cash Flow	9.5	-17.1	-344.4	329.2	-147.5	-529.1
Free Cash Flow	57.8	38	40.7	-221.3	152.2	300.8
Free Cash Flow Growth	14.00%	-6.63%	-	-	-49.40%	8.32%
Free Cash Flow Margin	3.29%	2.22%	2.51%	-15.33%	12.31%	29.00%
Free Cash Flow Per Share	0.45	0.29	0.31	-1.36	0.84	1.64
Cash Interest Paid	56.1	56.1	78.2	69.6	59.4	62.1
Cash Income Tax Paid	35.8	35.8	31.3	373.8	73.9	72.3
Levered Free Cash Flow	-16.81	-8.5	21.51	1,072	-434.44	34.25
Unlevered Free Cash Flow	34.44	37.75	63.26	1,095	-391.13	79.19
Change in Working Capital	-6.7	-35	-33.8	48.7	-126.9	-116.1

Source: S&P Global Market Intelligence. Standard template. Financial Sources.